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Questions / answers

Archives : Questions / answers

The most recent articles on this subject :

Can my charitable bequest penalize my heir(s)?

Audrey

By Audrey on April 16, 2010

After providing for the well-being of your family and loved ones, you can bequeath an amount or percentage of your assets to one or many charitable organizations. Certain charitable bequests will significantly reduce the fiscal burden associated to your estate.  Often, the enjoyment of the assets goes to the spouse first; then is distributed to [...]

Is it necessary that my intention to donate to a charitable organization be stated in my will?

Audrey

By Audrey on February 16, 2010

Without a will, your property and finances are settled according to federal and provincial laws, which may not coincide with your wishes. In order to be certain that the charity of your choice receives the donation in question, it must be mentioned in your will. You must precisely state the exact name of the organization [...]

How do planned donations differ from annual donations?

Audrey

By Audrey on January 16, 2010

As a general rule, the beneficiary organization is obliged to spend during the year in progress, 80% of the donations for which a receipt has been issued during the terminated year. This law does not apply to certain types of planned donations, particularly bequests, along with the proceeds of a life insurance and donations where [...]

How do I leave a gift for an organization that is important to me?

Audrey

By Audrey on January 16, 2010

One of the easiest ways is by making a charitable bequest. You can donate a fixed amount, a percentage of the estate or the remainder of it, an insurance policy or part or any other asset. There exists numerous ways to make a planned donation, choose which is most appropriate for you by consulting the [...]

How do trusts work?

Audrey

By Audrey on December 2, 2009

You will immediately be issued a tax receipt for the present value of the residual interest in the trust. Throughout your life, or for a defined period, you will receive a predetermined amount from the trust; when the trust expires, all assets will be transferred to the charitable organization. Because of the costs related to [...]

What are the advantages of a charitable bequest?

Audrey

By Audrey on November 9, 2009

Your charitable bequest will reduce the taxes to pay upon death. The charitable bequest entitles you to non-refundable tax credits that are equivalent to nearly 50% of the value of the donation. The liquidator can use the receipt obtained for the donation for up to 100 % of the net income of the year of [...]

Why is it important to prepare your will?

Audrey

By Audrey on October 16, 2009

Your will guarantees that your assets will be distributed according to your wishes. If you do not have a will, there are no mechanisms in place for your legacy to be fulfilled as you desire. Here are the general steps to take in order for your wishes to be respected. Make a detailed list of your assets [...]

Do I tell the charitable organization that I have left a gift?

Audrey

By Audrey on October 9, 2009

That is up to you. Organizations often like to know in advance so they can recognize your generosity and tell you how they plan to use your donation.

Are gifts of listed securities advantageous?

Audrey

By Audrey on September 16, 2009

You will benefit from undeniable tax advantages if you transfer securities directly to the organization of your choice. In 2006, The Canada Revenue Agency and Revenu Québec removed taxation on capital gains when listed securities are transferred to a registered charitable organization. The advantage lies in not having to pay any taxes on the capital [...]

What about my love ones, you ask?

Audrey

By Audrey on August 16, 2009

Tell your loved ones that making a planned donation has many advantages. It is the opportunity to share your reasons, your sense of satisfaction and the ensuing tax advantages, while calling upon them to support your initiatives. It will be easier for them to understand and respect your choice.  You can also attach an explanation [...]